MAX S&P 500 4x Leveraged ETN
SPYU
12 hedge funds and large institutions have $6.55M invested in MAX S&P 500 4x Leveraged ETN in 2025 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 5 increasing their positions, 2 reducing their positions, and 6 closing their positions.
150% more repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 2
130% more capital invested
Capital invested by funds: $2.85M → $6.55M (+$3.7M)
2.53% less ownership
Funds ownership: 2.53% → 0% (-2.5%)
8% less funds holding
Funds holding: 13 → 12 (-1)
17% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 6
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$678K |
| 2 |
GS
GTS Securities
Miami,
Florida
|
+$656K |
| 3 |
HF
HRT Financial
New York
|
+$600K |
| 4 |
MFA
Millington Financial Advisors
Naperville,
Illinois
|
+$568K |
| 5 |
FTUS
Flow Traders U.S.
New York
|
+$326K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$484K |
| 2 |
XT
XTX Topco
George Town,
Cayman Islands
|
-$247K |
| 3 |
BW
BXM Wealth
Englewood,
Colorado
|
-$217K |
| 4 |
S
SignatureFD
Atlanta,
Georgia
|
-$175K |
| 5 |
TFA
Toth Financial Advisory
Leesburg,
Virginia
|
-$43.9K |
SPYU Hedge Fund Activity: Q2 2025 in Review
12 of the 7,616 institutional investors tracked by Wall St. Rank reported a position in MAX S&P 500 4x Leveraged ETN (SPYU) for Q2 2025, worth a combined $6.55M — up 130% from $2.85M a quarter earlier.
Sellers outnumbered buyers: 6 funds closed out of SPYU and 5 opened new positions — a net loss of 1 holder — while 2 trimmed existing stakes and 5 added.
The largest buyer was Susquehanna International Group, adding an estimated $678K. The largest seller was Jane Street, exiting entirely with an estimated $484K sold.
- 12 institutional investors held MAX S&P 500 4x Leveraged ETN (SPYU) as of Q2 2025, down from 13 in Q1 2025.
- Funds reported $6.55M of MAX S&P 500 4x Leveraged ETN stock for Q2 2025, up 130% quarter-over-quarter.
- 5 funds opened new MAX S&P 500 4x Leveraged ETN positions in Q2 2025 and 6 closed out, a net change of -1 holder.
- The largest MAX S&P 500 4x Leveraged ETN buyer in Q2 2025 was Susquehanna International Group, an estimated $678K added.
- The largest MAX S&P 500 4x Leveraged ETN seller in Q2 2025 was Jane Street, an estimated $484K sold.
Based on aggregated 13F filings for Q2 2025.